American Century Companies Inc. Buys 909,558 Shares of Onsemi (NASDAQ:ON)

American Century Companies Inc. raised its stake in shares of Onsemi (NASDAQ:ON) by 451.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,111,112 shares of the semiconductor company’s stock after acquiring an additional 909,558 shares during the quarter. American Century Companies Inc. owned approximately 0.26% of Onsemi worth $76,167,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ON. Private Wealth Management Group LLC bought a new position in Onsemi during the 4th quarter valued at about $33,000. Westside Investment Management Inc. raised its stake in shares of Onsemi by 5,500.0% in the first quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 550 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Onsemi by 36.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 169 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Onsemi in the 2nd quarter worth approximately $43,000. Finally, Fidelis Capital Partners LLC bought a new stake in Onsemi during the 1st quarter worth approximately $45,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on ON shares. Citigroup lowered Onsemi from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $85.00 to $77.00 in a research note on Monday, July 15th. Susquehanna raised their price objective on shares of Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. boosted their target price on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Needham & Company LLC reissued a “buy” rating and set a $92.00 price target on shares of Onsemi in a research note on Thursday, June 13th. Finally, Morgan Stanley cut shares of Onsemi from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $70.00 to $65.00 in a research report on Thursday, July 11th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $85.61.

Onsemi Stock Up 3.4 %

Shares of NASDAQ ON opened at $71.72 on Friday. Onsemi has a 52-week low of $59.34 and a 52-week high of $98.07. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01. The stock has a market cap of $30.86 billion, a P/E ratio of 14.64, a P/E/G ratio of 3.79 and a beta of 1.66. The firm has a 50 day moving average price of $73.27 and a 200 day moving average price of $72.44.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The firm’s quarterly revenue was down 17.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 EPS. Analysts expect that Onsemi will post 4.01 EPS for the current year.

Insider Activity at Onsemi

In related news, insider Simon Keeton sold 30,939 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the sale, the insider now directly owns 231,092 shares in the company, valued at $18,011,310.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.31% of the stock is owned by insiders.

Onsemi Company Profile

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.